Full Citation

Title: Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds

Citation Type: Journal Article

Publication Year: 2018

ISBN:

ISSN: 0893-9454

DOI: 10.1093/rfs/hhy010

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Abstract: Using data from individual Census records on the wealth of managers’ parents, we find that mutual fund managers from poor families outperform managers from rich families. We argue that managers born poor face higher entry barriers into asset management. Consistent with this view, managers born poor are promoted only if they outperform, while those born rich are more likely to be promoted for reasons unrelated to performance. Overall, we establish a first link between fund managers’ family descent and their ability to create value . . .

Url: https://academic.oup.com/rfs/article/31/10/3756/4831077

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Authors: Chuprinin, Oleg; Sosyura, Denis

Periodical (Full): The Review of Financial Studies

Issue: 10

Volume: 31

Pages: 3756-3820

Data Collections: IPUMS USA

Topics: Housing and Segregation, Other

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